SHANGHAI, Dec. 26 (SMM) – On Friday, SHFE 1202 lead contract prices opened RMB 120/mt higher at RMB 15,300/mt, but fell slightly and moved around RMB 15,250/mt in the morning session. In the afternoon, prices rose to opening price but met resistance at the 30-day moving average, and finally closed at RMB 15,340/mt, up RMB 160/mt, or 1%. Trading volumes increased by 350 lots to 460 lots, and positions decreased by 58 lots to 1,404 lots.
Domestic spot prices increased by RMB 50/mt with the rising SHFE lead prices. Quotations for well-known brands such as Nanfang, Chihong Zn & Ge were around RMB 15,300/mt, with premiums against SHFE 1202 lead contract prices of RMB 50/mt. Quotations of other brands such as Hanjiang were between RMB 15,200-15,240/mt. In the afternoon, SHFE lead prices rose again, with most branded lead quoted at RMB 15,350/mt, but limited transactions were done. Downstream buyers purchased on as-needed basis and transactions were quiet ahead of weekend.